Just because the end of year sales are over doesn’t mean you can’t find a bargain in the housing market.  Here’s one all ready for you to celebrate moving in!  Thanks to Burbed reader SEA for finding this festive property.

37003 Arden St, Newark, CA 94560
$199,000

BEDS: 2
BATHS: 1
SQ. FT.: 816
$/SQ. FT.: $244
LOT SIZE: 5,000 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STORIES: 1
YEAR BUILT: 1922
COMMUNITY: Alameda County
COUNTY: Alameda
MLS#: 81042954
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 125 days

TLC Needed, but a good value.

Here’s what SEA had to say about the house:

If you really want some instant equity in that area, take a look at [this place].

Sold May 2006 for $581k.
Listed today for $199k.

That’s 2/3 off!

Of course all these homes at 50%+ off peak pricing, they cannot impact the RBA pricing. In fact, the ratio of RBA pricing to non-RBA BA pricing keeps going ever higher.

With all that positive cash flow from day one, it’s difficult for me to understand why these places are for sale, foreclosed.

And that’s not even considering all the income tax advantage that the landlord keeps. What person lets a cash cow go to foreclosure?

And let’s not even get started on the difference in cash flow if I were to buy this place today versus the landlord who owns another unit in the area purchased for ~$600k in 2006. I’m sure he’ll have no problem passing his extra expenses on to the tenant, or so the theory goes.

We can talk cash cow if you want, but we’d be a lot further afield from Google if we did.  Supposedly the Price to Rent ratio in Fresno is (are you ready?)… 8.  So let’s stick with Newark for now, as it has more sushi shacks than silos.

Plus this house is ready to party down with your bad self.  So if you’re one of those people who need a big hank of the hair of the dog that bit you, head on over to the bank today. Tell them you heard it’s a short time to homeownership.

Last house of 2010, and is it a STUNNER!  The banks say everything must go, so help economy as you help yourself to these incredible deals!

36570 Bonnie St, Newark, CA 94560
$206,900

Beds: 3
Baths: 1
Sq. Ft.: 942
$/Sq. Ft.: $220
Lot Size: 6,864 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
View: Neighborhood
Year Built: 1953
Community: Alameda County
County: Alameda
MLS#: 81040455
Source: MLSListings
Status: Active
On Redfin: 136 days

1st time home buyer or investment opportunity. 3 br, 1 bath home with large yard and wide driveway space. Add your style with some updates and a little sweat equity. Convenient to freeways and shopping.

You’ll have plenty of opportunities to add your style here!  All it needs are some updates and a little sweat equity.  I think the agent is using “little” in the same sense that upper-class women use the term to mean “expensive.”  As in “Muffy, do you think I should wear my ‘little’ necklace to the regatta?”

Associating the house with shopping expeditions by the moneyed class is an excellent marketing strategy, because the house is “convenient to freeways and shopping.”

Convenient to shopping.  Really, really convenient.

I’m not sure what amazes me more about this house: that the agent thinks these photos are going to help sell it, or that it’s only being offered for 15% less than its bubble pricing in 2006.  But that’s still more than twice what it sold for in 1990, proving that real estate will always go up in the long run.

It’s just that some places have to run longer than others.

Better make it your New Year’s resolution to elbow your way past the crowds to buy this one, because it’s selling shortly!

6340 Noel Ave, Newark, CA 94560 – Property Details.
6340 Noel Ave, Newark 94560 (Others)

$399,950

* Status: Active
* Bedroom: 3
* Bathroom: 1
* Year Built: 1953
* Lot Size: 5100
* Square Footage: 752
* List Date: 10/30/2007
* Parking Spaces: 0
* MLS#: 40306857
*
DESCRIPTION -
6340 Noel Ave, Newark
OPEN HOUSE SUNDAY, 11/4/07, 1-4 PM. SWEET STARTER HOME ON LARGE LOT. GOOD NEIGHBORHOOD, CLOSE TO SHOPPING, COMMUTES, TRANSPORTATION. GARAGE CONVERTED TO 3RD BEDROOM. BRING YOUR HANDYMAN SKILLS AND MAKE THIS HOME YOUR OWN.

Now as we all know, Newark technically isn’t in The Real Bay Area. After all, the median price there is below $690k.

But still, Burbed reader Peter thought it would be nice to share this entry. And I agree. For those not fortunate enough to make more than $125k a year, this is a good opportunity for you to at least live near The Real Bay Area.

In particular, Peter called out the kitchen – let’s take a look:

Wow, is that retro chic or what?  $399k for 752 sqft, includes this? Sold, sold, sold.

If I were you, I’d keep it exactly like this – they don’t make appliances like that anymore, and thus it can go only up.

Or at the very least, you can donate this kitchen to the Smithsonian and get a big write off!